Nvidia AI Antitrust Investigation Intensifies, Reports Bloomberg

Home AI News Nvidia AI Antitrust Investigation Intensifies, Reports Bloomberg

Updated on November 11 2024

An escalating antitrust investigation by the Department of Justice is scrutinizing Nvidia's dominance in the AI hardware market, according to Bloomberg. The investigation centers on whether Nvidia is making it difficult for customers to switch to alternative suppliers and penalizing those who do not exclusively use its AI chips.

Nvidia spokesperson John Rizzo stated, "Nvidia wins on merit, as reflected in our benchmark results and value to customers. Customers can choose whatever solution is best for them. We have inquired with the U.S. Department of Justice and have not been subpoenaed. Nonetheless, we are happy to answer any questions regulators may have about our business."

Previously, Nvidia surpassed Microsoft as the world’s most valuable company, but it now trails both Microsoft and Apple. Following the news of the investigation, Nvidia's share price fell over 9 percent, erasing approximately $279 billion in market value within a single day. Despite this, Nvidia's stock remains more than double its value from earlier this year, driven by the AI boom that has significantly boosted sales of its high-end chips. However, a recent report indicated potential delays of three months or more for its upcoming Blackwell series of AI chips due to design issues.

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